Inside the Reserve Bank's digital currency dream
- CBDCs have suddenly become the flavour of the season. And it could very well be the future of money
- A 2020 survey showed that 60% of the global sovereign monetary institutions were experimenting with the technology related to CBDCs; 14% were in the process of deploying pilot projects
NEW DELHI : How justified is it that today while it takes only a few seconds to send an email or a text message from Mumbai in India to New York in the US, transferring money between these cities can take anywhere between 2-3 days? On top of this delay, transfer fees are also involved—which could be inexplicably high (about ₹500-1,000).
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